Funds advised by Triton have signed an agreement of its intention to acquire the business unit SKF Motion Technologies from SKF Group, listed on Nasdaq Stockholm. Triton intends to form a standalone company under a new brand.
Regulatory approvals, finalization of necessary consultations and other customary closing conditions are underway. SKF’s French linear and actuation technology business is dealt with on a separate process, but both parties have the intention to reach an agreement to also divest it to Triton.
SKF Motion Technologies is a global provider of electrical linear actuator components- and systems as well as linear motion products, with market leading positions and differentiated offerings in global niche markets, including high end medical and industrial actuators and roller screws. Headquartered in Gothenburg, Sweden, the company operates nine production sites (Sweden, France (2), Switzerland, Germany (2), US, Taiwan and China), 13 dedicated sales units and employs approximately 1,200 employees.
"We look forward to actively supporting the management and employees as a stable owner by investing in and supporting the growth and development of the company. Our strong industry expertise, gained through other investments and strengthened by senior industry experts, will contribute in taking the company to the next level,” said Peder Prahl, director of the general partner for the Triton funds.
“By becoming a standalone entity supported by an experienced and active owner with broad sector expertise, we will improve our ability to advance our positions and offerings in niche markets segments, said Daniel Westberg, managing director of SKF Motion Technologies.
“SKF Motion Technologies operate in a structurally growing market driven by automation with an attractive product portfolio and strong engineering competence. We look forward to apply our experience from other corporate carve out processes to build and grow the company further,” said Johan Pernvi, investment advisory professional and advisor to the Triton Funds.